PARLIAMENT, October 25 – Finance Minister Malusi Gigaba on Wednesday said Treasury’s contingency reserve would be cut down to R16 billion over the next three financial years. In his maiden medium-term budget policy statement (MTBPS), Gigaba said the paring down of the reserve funds to R3 billion for 2017/18, R5 billion in 2019/20 and R8 […]
JOHANNESBURG, October 21 – Eskom has terminated the services of its evidence leader Sebetja Matsaung in the disciplinary hearing of suspended Eskom acting CEO Matshela Koko, the power utility said on Saturday. This followed an altercation between Matsaung and the Financial Mail’s deputy editor Sikonathi Mantshantsha after the hearing was adjourned on Friday, Eskom said […]
PARLIAMENT, October 20 –The head of Eskom’s pension and provident fund admitted on Friday that former Eskom CEO Brian Molefe should never have been entitled to a pension from the power utility because he was employed on a fixed five-year contract. “He should never have been a member of the fund in the first place,” […]
PARLIAMENT, October 20 – Parliament’s portfolio committee on Public Enterprises on Friday rebuffed a demand from Black First Land First (BLF) to stop its inquiry into Eskom, which the group termed a witchhunt against the Gupta family. Committee chairwoman Zukiswa Rantho asked MPs how she should respond to the missive, which threatened legal action should […]
Solly Makganoto The Black First Land First (BLF) said that it has given parliament and the Portfolio Committee on Public Enterprises until 13:00 today (Thursday) to stop the current pro-white monopoly capital witch hunt. This is in relation to the current hearing on Eskom’s “state capture”, which BLF says is nothing but a ploy to […]
JOHANNESBURG, October 17 – Global consultancy firm McKinsey & Company admitted on Tuesday that it made “several errors of judgment” in the way it handled contracts with South African power supplier, Eskom, adding that it was not careful enough about who it associated with when taking such contracts. Earlier this month Eskom demanded that McKinsey and Gupta-linked […]
JOHANNESBURG, October 16 – Eskom on Monday suspended its planned supply interruption to the Govan Mbeki local municipality in Mpumalanga after it reached a payment agreement with the municipality. This comes after Eskom started cutting the power supply to Govan Mbeki Local municipality from Monday last week and affecting areas such as Secunda, Embalenhle, Bethal, and Emzinoni as the municipality was over half […]
COFIMVABA, October 16 – At least 50 South Africans people have been killed and 150 others injured nationwide in incidents linked to illegal and unsafe electricity connections in 2016/17. Such illegal connections cost the South African power utility, Eskom a whopping R20 billion during the period. Officials from the company disclosed the figures in Cofimvaba […]
CAPE TOWN, October 13 – Eskom said on Friday the department of energy has granted it permission to build a new nuclear power plant at Duynefontein in the Western Cape, near the existing Koeberg plant, and it was now waiting for government to make a policy decision on whether to proceed with the country’s contested […]
JOHANNESBURG, October 12 – Eskom’s interim group chief executive, Sean Maritz, on Thursday “acknowledged the oversight” in hiring his friend on a R100,000-per-month contract without following proper procedure, but rejected that this was irregular. This comes after weekend media reports that Maritz had previously received a written warning because he did not declare that the lucrative contract was given […]